The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1887-05-30
TIE COFFEE BOOM,
some inside Facts ConcsrnlnE tho Recent
Itise In the Market. o..

Rise In the Market.
NEw foRE, May 2S.-Cofee is highe,
than it has ever been before for any con.
siderable period. The coffee situation,
therefore, is interesting, not to say aerious,
Gambling in it is just now wilder than in
any atocks or in any other produce. The
price has advanced 100 per cent in year
and, il the lowest and highest prices are
taken l5O per cent. 1.-THE present eitua,
ton continues, the coffee drinkers in the
United States will pay s5O,0OO,OOO more
for it than they paid in 1855, and $50 OOO,,
600 more than they did in 1852. The rise
in price 10, therefore, equal to the imposi.
ton OF 81 on every man, woman and child
(whether cotlee drinkers or not) in the
country. And il the movement upward
continues, coffee vii! pass out OF the daily
use OF the people and become a luxury.
The cause Of this startling advance in
price is three-fold. The consumption has
increased much more rapidly than The
supply. In 1867 the consumption per
capita was 1 II pounds; in 1873, the firsl
year liter it was put on the free list it was
9OI; in 1854 1t WIS 959, and it has since
Increased. The range OF prices hss been
for fair Rio, in 1850, Is cents; in 1870. ID
to II cents; in 1850, II to l4t cents; NAV
Of last year, % cents. Now it is shout &c
cents.
Another cause ia tho chance given fol
gambling by the necessary lack OF trust.
worthy crop reports. There ia no concert.
ed news gathering in inland Brazil. The
third cause is the estimsted Bhortneas o.
the crop in Brszil. which has now ius,
been gathered and will begin to arrive
about July !. The Brazil crop 10 estims
ted at from 9, e,250. 600 to 100000 bags. The
expectation u year ago Was OF crop O
from 5000 900 to 100000 bags. A short
ago Of l.0O0,0 600 bags from Brazil will keer
prices where they now are. The crop ir
Java also is short. In Csylon the leaf dis
ease has reduced the production by a
least one-half. Thus the supply Of the
very best coffee is sure TO be smaller 10,
this year than it has been for q generation
To-day the highest figures arc paid fol
Myaorc coffee, aud it is considered the
best grown. Mysore is a part OF ucps;
British India aud the cultivation OF the
berry ia entirely under European control
Thus far tho leaf disease, which has spread
such havoc in Java and Ceylon, has lef,
British India alone; but how long it will
do so it is bard to sHy. All attempts te
grspple with this diaease have proved
truitlesp, and II it ever puts in an sppear.
snCe in Brazll the days Of coffee drinking
will be numbered. There are those who
believe that unless the leaf disease can be
grappled with successfully, it is only 9
question OF tune whom cnp Of coffee will
be as great q luxury as a bottle cham
payne.
Whether or not the price will be main
tains'la 80 high a figure will depend much
on tue future CT speculation. The only
CoGee Exchange in the country ia that il
New York, which now has great boom
Tho fever 10 higher than ever beforu ir
tho history ot the trade. There is mort
gambling in it than in any other grocery
staple. The present uncertain outlook Of
tho supply has brought outaiders into the
speculation. Syndicstes have been often
formed to bull the marker, but in the
msjorisy OF caaes they have failed. The
syndicate OF 1888, after costing tho con.
sumera Of coffee over 5000, 900, lost more
than 1t made and brought down aevera
large houses. Tho principal members o.
thHt syndicate wore Havro and Rio houses
with aomo few New York firms added
The present syndicate which is booming
prices is composed OF New York, French
and Brazilian homes. and is by far the
atrongeot ever formed. There are, how.
ever, other outaide honsc5 which arc bulls
on tho situation, md several have made q
good ronnd sum already. Messrs Hard
Il Rant, who do not speculate in op.
tons, but are the largest importer
Of coileo in thin country, have
netted anywhere from S50O,000 to $3.50
900. II We consider that bag OF coffee
which year ago WAC worth, say SIS, il
to-day worth S"6, the grsateat advance
having takon place. within tho last SIX
weeke, Tho above estimate is not unreHpon.
able, II II ia not entirely too small. Ar.
mold, tho old "Collee King" has had his
uharu OF tho epoils, and no has Selligsberg
who acted for the dofunct syndicate ID
1883 Tho Arbuckles, who Aru the larges
dlnlributors OF CoiIeo in the world, mus
have heited as least S500,000, although
they were not bulls on tho market. Thit
sum they have made in tho ordinary ru,
Of trade. Cotton brokers, and even Wal
street iinnnciGrg, have come into tho op
ton market, sa tho activity OH tho Coffee
Exchange hau been for come time inort
attractive thaa either cotton or stocks
What tho nctual rosults OF tho present
speculative crazu will be, II 10 hard to Say
but II tho present conditions continue, TIT
coneumers In the chief codes.irinkin,
countries will havo to pny this year Abou
Sl2O,0 coo, 900 more for tho cup than tho,
hRvu ever pnid any previous year.